Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, Krishna Ventures has informed that the Company submitted a proposal for acquiring ‘Corporate Power - as a Going Concern’ under Section 33 read with clause 2 of the Insolvency and Bankruptcy Board of India (Liquidation Process), 2016, pursuant to the order of Hon’ble NCLT. The company has informed that its proposal has been accepted by the Liquidator and the Stakeholder committee of Corporate Power for the acquisition of Corporate Power - as a Going Concern which has 270x2 Nos Thermal Power plant at Chandwa, Ranchi. The company is in the process of initiating payments on the agreed terms with the Liquidator of the Corporate Power.
The above information is a part of company’s filings submitted to BSE.
